Looking to max out your contributions to your retirement plan? Here are your limits:
| 401(k) Maximum Participant Deferral | $19,000* *$25,000 for those age 50 or over, if the plan permits |
| Defined Contribution Maximum Annual Addition | $56,000 |
| Highly Compensated Employee Threshold | $125,000 |
| Annual Compensation Limit | $280,000 |
Remember: There’s still time to set up your Safe Harbor 401k Plan for 2019!
And don’t forget, CalSavers is now in effect. If your company doesn’t offer a retirement plan, they have to in California.
Next Step: Speak to Erick, a 401(k) Advisor
Sources/Disclaimers:
For plan sponsor use only, not for use with participants or the general public. This information is not intended as authoritative guidance or tax or legal advice. You should consult with your attorney or tax advisor for guidance on your specific situation.
Kmotion, Inc., 412 Beavercreek Road, Suite 611, Oregon City, OR 97045; www.kmotion.com
© 2018 Kmotion, Inc. This newsletter is a publication of Kmotion, Inc., whose role is solely that of publisher. The articles and opinions in this publication are for general information only and are not intended to provide tax or legal advice or recommendations for any particular situation or type of retirement plan. Nothing in this publication should be construed as legal or tax guidance; nor as the sole authority on any regulation, law or ruling as it applies to a specific plan or situation. Plan sponsors should consult the plan’s legal counsel or tax advisor for advice regarding plan-specific issues.
Tracking #1-857328
